Nvidia is caught in the middle of an escalating trade war between the world’s two largest economies. Nvidia on Tuesday said it will take a $5.5 billion financial hit after Washington placed fresh restrictions on the export of its H20 artificial intelligence chips to China,

China on Wednesday unexpectedly appointed a new trade negotiator key in any talks to resolve the escalating tariff war with the United States, replacing trade tsar Wang Shouwen with its envoy to the World Trade Organization.

President Trump is staking everything on winning by imposing tariffs on China. But the fight threatens to choke off negotiations about other issues like Taiwan, fentanyl, TikTok and more.